Everton will meet the costs of their £500m stadium with a 'phased' funding model.
And the enabling works which will begin at Bramley-Moore Dock site on July 26 are to be paid for by money from majority shareholder Farhad Moshiri.
Moshiri has long promised he would inject around £100m into the half a billion pound project and his commitment to the stadium will allow the club to complete the initial phase of works at the waterfront site, which will prepare the land before the stadium construction begins.
And at that second phase, the money the club are looking to secure from the private sector, will be used for the physical construction of the 52,888 stadium.
It is believed that the second phase of the project may not begin until the end of this year or the start of 2022, but the club have today confirmed they will start work later this month, in what will be a historic day for Everton.
The club have estimated that around £350m of the overall cost would come from borrowing from the private sector, while a naming rights deal - of which USM holds the option on - would also help towards the costs.
